CBDT extended the due date to file ITR of AY 2020-21 from 30th November to 31th December 2020 and for AY 2019-20 from 31st July to 30th September 2020.
Income Tax Return file: The Central Board of Direct Taxes (CBDT) has broadened the last date for documenting ITR for AY 2019-20 (FY 2018-19). The date has been stretched out from July 31 to September 30, 2020. In a tweet from its official handle, Income Tax division today stated, “Taking into account the requirements because of the Covid pandemic and to additionally ease compliances for citizens, CBDT broadens the due dt for documenting of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020, vide Notification in S.O. 2512(E) dt 29th July, 2020.”
Gst registration in Muzaffarpur
Taxes charged prior to the new extension would be viewed as prepayment tax. An official notification from CBDT stated: ‘In the case of an person residing in India referred to in ub-section (2) of Section 207 of the Income Tax Act, 961 (43 of 19610, the tax paid by him under section 140A of that Act shall be deemed to be an advance tax on the due date (before extension) provided for in that Act.’
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In June, the CBDT had extended the deadline for filing FY2018-19 I-T returns by a month until July 31 , 2020. The due date for the FY 2019-20 sales tax return (AY 2020-21) has also been extended to November 30th, 2020. The CBDT had then claimed in a statement: “the tax returns that must be filed before due date”.
Last month, in the case of a taxpayer whose self-assessment tax liability was up to Rs 1 lakh by 30 November 2020 , the government also extended the payment date for self-assessment tax. In June, the CBDT further explained that there will be no extension of the date for payment of self-assessment tax for taxpayers with tax liability for self-assessment exceeding Rs . 1 lakh.